Well, it seems that investors across the world now have more things to worry than just EuroZone. And in fact major markets across the world are breaking their 'intermediate' supports (many have broken long term supports).
The Nifty too is at a long term support level at 4900-4950. While long term investors can do some small buying in select (frontline) stocks, short term / positional traders may still refrain from buying just because it has fallen much'!
Metals Auto, IT and banks other sectors have been discussed in this blog and I have indicated the 'weakness'. While we may have some corrective bounce, I expect the overall trend to be weak.
While the Nifty is at a long term support, it is the advanced indicators (not shown here) which are suggesting further weakness. Unless these turn back , my view should remain in favour of down side.
( Blog readers who have attended my workshop(s) may continue to trade more in intraday for a few days more )
Happy profit booking !
CA Rajiv D Khatlawala
www.investogyan.com
1 comment:
WHAT ABOUT RENUKA SUGAR ?
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